There are many programs available for those who have a disability. There are some people who think that it is not possible – but that is ja common misconception. It is also easier than traditional home loans. Some of them also have lower interest rates as well. Even if you were turned down in the past, we suggest you still apply.
If your main income source is from: long-term disability income from an employer or insurer, supplement security income, or social security disability income, you may qualify. All major home loan programs accept these types of incomes. If you get denied due to your disability income on your home loan application, try applying with a different lender. Someone else may accept you.
Just like any other income source, you will need to document it properly for a mortgage lender. The requirements will differ depending on who is applying for the loan and the mortgage lender requirements. (A parent is able to buy a home for their disabled child – they just need to present certain documentations. There are actually special programs available for these types of situations.)
As with any mortgage loan, there are different requirements that exist. If you are interested in specifics, we would be happy to work with you and discuss your options. There are even options for disabled people who may have a low credit score.
Many grants also exist to help disabled home buyers. These grants may be a down payment grant or a down payment loan. Depending what state you are in, it is their housing finance agency that typically offer these types of programs. Sometimes local non-profits will offer it as well. Habitat for Humanity is a very well-known program that offers help.
As with any situation you are in, we always recommend you explore all of your home buying options. There may be more options available than you realize!